SEC to Investment Firms: ‘Stakes High to Get GIPS Compliance Right’ (Video)

The 21st Annual GIPS Standards Conference will be held 14–15 September 2017 in San Diego, California.

At the GIPS Standards Annual Conference, Andrew Bowden, director of the SEC Office of Compliance Inspections and Examinations, discussed enforcement activities related to investment firms’ false claims of compliance with the Global Investment Performance Standards (GIPS®). The GIPS standards are broadly accepted, voluntary global ethical standards for calculating and presenting investment performance for a firm to market its investment management services globally.

Citing recent enforcement actions, Bowden stressed: “It is important to establish the fact that [false] claims of GIPS compliance, claims of verification or material misrepresentations, and false claims of performance can lead to civil and criminal penalties.”

If you liked this post, consider subscribing to Market Integrity Insights.

All posts are the opinion of the author. As such, they should not be construed as investment advice, nor do the opinions expressed necessarily reflect the views of CFA Institute or the author’s employer.